As per the approved budget, the broker’s overall revenues and expenses are envisaged at RON618,900 and RON617,100, respectively, in 2014. Wage costs for the three employees of Posta Romania Broker de Asigurare are expected to reach RON160,100.
Posta Romana said in June 2011 that it will set up a bank and an insurance broker to make better use of its postal unit network and boost its revenues, on the backdrop of a contraction of the profile market.
According to ASF data, brokerage firms brokered 46.84% of underwritten premiums in 2013, up by 3.2 percentage points against 2012. The value of premiums brokered by brokerage firms on the two categories of insurance stood at RON3.88 billion last year, up 7.77% from 2012.
Over 500 companies operate on the local insurance brokerage market.
In 2013, Romania’s general and life insurance market rose 0.4% to RON8.29 billion.
With a turnover of RON1.26 billion in 2012, Posta is Romania’s largest postal operator, with 5,700 postal units and some 27,000 employees.
The company is 75% owned by the Ministry for Information Society and 25% held by investment fund Fondul Proprietatea.